Done Deals: HFF closes sale of Residence Inn Boston Tewksbury/Andover in Tewksbury, MA

Residence Inn Boston Tewksbury/Andover hotel,
1775 Andover Street, in the suburban Boston community of Tewksbury, MA

BOSTON, MA –– Holliday Fenoglio Fowler, L.P. (HFF) announces that it has closed the sale of the 130-room Residence Inn Boston Tewksbury/Andover hotel in the suburban Boston community of Tewksbury, Massachusetts.

Daniel C. Peek

The HFF team represented an institutional seller, and procured the buyer, Sawyer Realty Holdings, LLC.

The hotel was marketed as part of a three-property Northeast hotel portfolio that also included the recently-closed Hyatt House Bridgewater in Bridgewater, New Jersey, and the Hampton Inn & Suites Providence/Smithfield in Smithfield, Rhode Island.

The Residence Inn Boston Tewksbury Andover is located at 1775 Andover Street just off Interstate 495 in Tewksbury.

The hotel is positioned near strong corporate demand drivers in the tech and pharmaceutical industries such as Raytheon, Thermo Fisher Scientific, Hewlett Packard and IDEX, among others.

Denny Meiklelham

Additionally, the local area is home to many higher education institutions such as Phillips Academy, Merrimack College and the University of Massachusetts Lowell that provide healthy demand throughout the year.

Completed in 1990, the property comprises 10 three-story buildings offering guest rooms along with one- and two-bedroom suites.

Hotel amenities include complimentary breakfast, complimentary evening social event on select evenings, a fitness room, car rental station, convenience store, bbq pit, outdoors swimming pool and business center.

The HFF investment advisory team representing the seller consisted of senior managing director Daniel C. Peek, managing director Denny Meikleham, senior directors Alan Suzuki and KC Patel and director Matthew Enright.

Jessica Rosenberg

Sawyer’s acquisition team was led by acquisitions and asset manager Jessica Rosenberg.

David M. Rosenberg

Founded over 30 years ago by Principal and CEO David M. Rosenberg, Sawyer Realty Holdings LLC (Sawyer) is a multi-disciplinary real estate investment firm that has the unique ability to envision, assemble, and structure extraordinary real estate transactions.

Ownership and key personnel have over 100 years of combined experience, enabling the firm to evaluate and develop effective asset strategies.

Sawyer structures complex real estate transactions by accessing its deep financial resources, innovative financing, longstanding relationships, and its knowledge and experience in the multi-family and hospitality industries.

Alan Suzuki

HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry.

HFF, together with its affiliates, offers clients a fully integrated capital markets platform, including debt placement, investment advisory, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing.

HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities Limited are owned by HFF, Inc. (NYSE: HF).